Sourced acquires Open House and 104 estate agencies, adding a third franchise network to their growing property group

Warrington-headquartered property group Sourced has acquired Open House Estate Agents, adding 104 franchisees to its already 230+ strong network. The deal brings an established estate agency and auctions operation into the Group for the first time, connecting Sourced’s existing investment, finance, lettings and management businesses into full property-lifecycle coverage.

The acquisition brings an established estate agency and auctions operation into the wider Sourced Group, alongside its existing property investment, finance, lettings and property management businesses.

Open House will continue to operate under its own brand, with the focus now on bringing the strengths of both networks together to create new opportunities for franchisees and clients.

Despite growing independently, Sourced and Open House have built their businesses around a similar model: local business owners backed by the infrastructure of a national network.

Across both networks, franchisees have the autonomy to build businesses suited to their local markets while benefiting from established brands, technology, systems, support and nationwide opportunities.

Stephen Moss, founder of Sourced, said:

“What stood out to us about Open House was how closely the business aligned with our own. We didn’t have to convince them to think like us because, in many ways, they already did.

“Both networks are built around ambitious local business owners, backed by the systems, technology and opportunities of a national organisation. Bringing those networks together creates huge potential for everyone involved.

For Open House franchisees, the acquisition will provide access to Sourced’s wider infrastructure and its fully funded acquisitions programme, designed to help franchisees acquire established lettings agencies and managed property portfolios to accelerate growth.

For Sourced, Open House strengthens its offering across the property lifecycle, connecting property investment, finance, lettings and management with estate agency and auctions.

The deal also brings together two Warrington-headquartered businesses that have independently grown nationwide property networks from the North West.

Open House will retain its existing identity, with greater collaboration between the networks planned as the businesses move into their next phase of growth.